Independent Advisor Alliance Purchases 1,245 Shares of Prologis, Inc. (NYSE:PLD)

Independent Advisor Alliance boosted its position in Prologis, Inc. (NYSE:PLD) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 16,299 shares of the real estate investment trust’s stock after buying an additional 1,245 shares during the period. Independent Advisor Alliance’s holdings in Prologis were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principle Wealth Partners LLC boosted its position in shares of Prologis by 2.9% in the fourth quarter. Principle Wealth Partners LLC now owns 3,302 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 92 shares during the period. Black Diamond Financial LLC raised its stake in Prologis by 2.2% in the 4th quarter. Black Diamond Financial LLC now owns 4,246 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 93 shares in the last quarter. Berkshire Bank boosted its holdings in Prologis by 2.3% in the 4th quarter. Berkshire Bank now owns 4,195 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 95 shares during the period. J.Safra Asset Management Corp grew its position in shares of Prologis by 22.3% during the 4th quarter. J.Safra Asset Management Corp now owns 559 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 102 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in shares of Prologis by 4.0% during the third quarter. Bridgewater Associates LP now owns 2,676 shares of the real estate investment trust’s stock worth $338,000 after purchasing an additional 103 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prologis

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total value of $1,305,783.78. Following the completion of the sale, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLD has been the subject of several recent research reports. BNP Paribas upgraded Prologis to a “strong-buy” rating in a research note on Wednesday, January 22nd. UBS Group upped their target price on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price target on Prologis from $125.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Monday, January 27th. Wolfe Research cut their price objective on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Robert W. Baird raised their target price on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.78.

Prologis Price Performance

Shares of PLD opened at $110.17 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a market cap of $102.11 billion, a PE ratio of 27.54, a PEG ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 12-month low of $100.82 and a 12-month high of $133.18. The business has a 50-day simple moving average of $116.77 and a two-hundred day simple moving average of $117.72.

Prologis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Prologis’s previous quarterly dividend of $0.96. Prologis’s dividend payout ratio (DPR) is 101.00%.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.